Cryptocurrency firm NYDIG sees Bitcoin as a secure investment option after Trump declares 'Liberation Day,' indicating increased demand for safe-haven assets.
Title: As Trump's Tariffs Shake Markets, Bitcoin Shines as a Potential Safe Haven
Hey there, crypto enthusiasts! We've got the scoop on why Bitcoin might be the next big safe-haven asset in these unsteady times.
Let's dive right in. Outspoken digital asset investment firm, NYDIG, is suggesting that Bitcoin is starting to resemble a safe-haven asset, thanks to financial wreckage caused by President Donald Trump's tariff rollouts. You asked for it, here's the details.
Greg Cipolaro, NYDIG's Global Head of Research, believes that Bitcoin has demonstrated some independence from equities, US Treasuries, and the dollar during the past week. He notes that amid the ongoing political tensions, including tariffs and the rumors about Trump's dismissal of Fed Chair Powell, Bitcoin should thrive. Here's his take:
"What we've seen lately is exactly the environment where Bitcoin should sparkle. The decoupling from traditional risk assets is still very new and delicate, but for those of us glued to the crypto market, the shift is noticeable.
However, we haven't yet observed the official data to validate this shift. Our preferred correlation measure – a 90-day rolling window – currently indicates increasing correlation between bitcoin and US equities."
Cipolaro argues that wavering trust in US policy decisions has caused the US dollar and US Treasuries to lose their reputation as safe-haven assets. As the landscape of safe assets changes, Bitcoin is beginning to take center stage.
"Since 'Liberation Day' on April 2nd, a new picture of haven assets is emerging, with Bitcoin leading the pack. Bitcoin has moved away from looking like a leveraged version of leveraged US equity beta and more like the non-sovereign issued store of value it is."
At the moment, Bitcoin is trading at a whopping $95,205. It's up over 2% in the last 24 hours.
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-The Daily Hodl Team
source: The Daily Hodl
Remember: Opinions expressed here are not investment advice. Investors should carefully consider their own investment objectives, risk tolerance, and consult a financial advisor before investing in cryptocurrencies or digital assets.
- In the midst of Trump's tariffs causing market instability, Bitcoin, a leading cryptocurrency, is being considered as a potential safe haven for investors.
- NYDIG's Global Head of Research, Greg Cipolaro, suggests that Bitcoin is starting to resemble a safe-haven asset, as it demonstrates some independence from traditional financial assets during political tensions.
- As US policy decisions waver, Bitcoin, along with altcoins, is beginning to take center stage, potentially replacing the US dollar and US Treasuries as safe-haven assets.
- Recently, Bitcoin's price has surged, with a trading value of around $95,205 and an increase of over 2% in the last 24 hours.
- stays are encouraged to follow industry announcements, such as the launch of privacy web apps for Arbitrum and Aleph Zero EVM, the introduction of transparency pages, and the upcoming stablecoin launches, to stay informed about the latest developments in the cryptocurrency world.
